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Regression analysis and ANOVA

1. Smith Software Inc. is a computer software firm that has grown in size in recent years. To assist in its planning for future growth, you are to determine the trend of the number of accounts based upon the below.

Month Number of Accounts
1 76
2 90
3 93
4 104
5 103
6 111
7 123

a. Plot these data in a scatter diagram.
b. Develop the trend equation for these data.
c. Predict the number of accounts for month #8.

2. Is there a significant difference in automobile insurance rates in different cities of comparable size in the U.S.? To answer this question a survey was taken in 3 cities. A sample of 6 auto insurance premiums was taken for married, male drivers, over 35 years-of-age, with no accidents in the last 5 years. The table below contains semi-annual premiums for equal policy coverage. Answer the question above using the 0.05 level of significance.

Baton Rouge Fresno Tulsa
98 124 82
128 149 124
83 166 132
61 147 135
101 149 109
78 130 121

Solution Preview

Smith Software Inc. is a computer software firm that has grown in size in recent years. To assist in its planning for future growth, you are to determine the trend of the number of accounts based upon the below.

Month Number of Accounts
1 76
2 90
3 93
4 104
5 103
6 111
7 123

a. Plot these data in a scatter diagram.
b. Develop the trend equation for these data.
c. Predict the number of accounts for month #8.

Ans :Scatter diagram

b). The ...

Solution Summary

Step by step method for regression analysis is discussed here. Regression coefficients, coefficient of determination, scatter diagram and significance of regression model are explained in the solution.

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